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Frank.Karl.S
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Gold, the SDR and BRICS - Alasdair Macleod - Finance and Eco.

The SDR is a basket (case) of debtor nations. How could one possibly achieve an equitable balance by adding the world's largest creditor nation? How would one weight the currencies? I have said before that "you can not add a fresh apple to a bowl of rotten fruit and call it a fruit salad". Adding gold to this basket would enforce such constraints upon the printing nations that this will never happen. Not unless it is accompanied by a reset. I bet that the US will kick the can and find a reason that the Renminbi still does not qualify for inclusion in the SDR.
The Chinese will happily accumulate more gold over the next five year review period (SDR components), as will the Russians, South Koreans and other member nations to the NDB and AIIB. The next review deadline, or perhaps even before, will be met with a NSDR. (new). The Chinese can not alone back their currency with gold since this would accelerate a race to the top in these currency wars to the bottom.
This assumes that the US will allow it's own currency demise without destroying this planet during the interim. Implode the dollar or implode the planet? In the first instance, the US loses. In the later case, everyone loses. We have bankster psychopaths at the helm. We should all be worried.

Commented 3443 days ago

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Beginning of the headline :Last Monday there was a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if any, of gold with the Special Drawing Rights1 (SDR). Also on the agenda was the inclusion of the Chinese renminbi, which seems certain to be included in the SDR basket in this year's revision, assuming that the United States doesn't try to block it. This is not the first time the subject has come up. OMFIF's chairman, Lord Desai wrote a pap... Read More

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